1、 MORGUARD CORPORATION 2018 ANNUAL REPORTTAKING ACTION.GETTING RESULTS.ON THE COVER(LEFT TO RIGHT)123 COMMERCE VALLEY DRIVE EASTMARKHAM,ONTHE FENESTRA AT ROCKVILLE TOWN SQUARE ROCKVILLE,MDJEAN EDMONDS TOWERSOTTAWA,ONThe selected annual financial information in the 2018 Annual Report highlights certai
2、n key metrics for the Company.As a result,this report should be read in conjunction with the Companys consolidated financial statements for the year ended December 31,2018,related Managements Discussion and Analysis(MD&A)and the Annual Information Form.These documents are available on the Companys w
3、ebsite at .All continuous disclosure documents required by securities regulators are also filed on the System for Electronic Document Analysis and Retrieval(SEDAR)and can be accessed electronically at .NON-IFRS MEASURESThe Companys consolidated financial statements are prepared in accordance with In
4、ternational Financial Reporting Standards(IFRS).The following measures,NOI and FFO(collectively,the“non-IFRS measures”)as well as other measures discussed elsewhere in the 2018 Annual Report,do not have a standardized meaning prescribed by IFRS and are,therefore,unlikely to be comparable to similar
5、measures presented by other reporting issuers in similar or different industries.The Company uses these measures to better assess the Companys underlying performance and financial position and provides these additional measures so that investors may do the same.Details on non-IFRS measures are set o
6、ut in the Companys MD&A for the year ended December 31,2018 and available on the Companys profile on SEDAR at .MORGUARD CORPORATION 2018 ANNUAL REPORT1 FELLOW SHAREHOLDERSMorguard once again achieved very strong financial results in 2018.There are many reasons for our continued success,but if I were